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The Resource The theory of incentives : the principal-agent model, Jean-Jacques Laffont and David Martimort, (electronic resource)

The theory of incentives : the principal-agent model, Jean-Jacques Laffont and David Martimort, (electronic resource)

Label
The theory of incentives : the principal-agent model
Title
The theory of incentives
Title remainder
the principal-agent model
Statement of responsibility
Jean-Jacques Laffont and David Martimort
Creator
Contributor
Author
Subject
Language
eng
Summary
Economics has much to do with incentives--not least, incentives to work hard, to produce quality products, to study, to invest, and to save. Although Adam Smith amply confirmed this more than two hundred years ago in his analysis of sharecropping contracts, only in recent decades has a theory begun to emerge to place the topic at the heart of economic thinking. In this book, Jean-Jacques Laffont and David Martimort present the most thorough yet accessible introduction to incentives theory to date. Central to this theory is a simple question as pivotal to modern-day management as it is to economics research: What makes people act in a particular way in an economic or business situation? In seeking an answer, the authors provide the methodological tools to design institutions that can ensure good incentives for economic agents. This book focuses on the principal-agent model, the "simple" situation where a principal, or company, delegates a task to a single agent through a contract--the essence of management and contract theory. How does the owner or manager of a firm align the objectives of its various members to maximize profits? Following a brief historical overview showing how the problem of incentives has come to the fore in the past two centuries, the authors devote the bulk of their work to exploring principal-agent models and various extensions thereof in light of three types of information problems: adverse selection, moral hazard, and non-verifiability. Offering an unprecedented look at a subject vital to industrial organization, labor economics, and behavioral economics, this book is set to become the definitive resource for students, researchers, and others who might find themselves pondering what contracts, and the incentives they embody, are really all about.--
Assigning source
Provided by Publisher
Cataloging source
NhCcYBP
http://library.link/vocab/creatorDate
1947-2004
http://library.link/vocab/creatorName
Laffont, Jean-Jacques
Illustrations
illustrations
Index
index present
Literary form
non fiction
Nature of contents
  • dictionaries
  • bibliography
http://library.link/vocab/relatedWorkOrContributorName
Martimort, David
Series statement
ProQuest Ebook Central
http://library.link/vocab/subjectName
  • Economics
  • Incentives in industry
Label
The theory of incentives : the principal-agent model, Jean-Jacques Laffont and David Martimort, (electronic resource)
Link
https://ebookcentral.proquest.com/lib/eui/detail.action?docID=485766
Instantiates
Publication
Bibliography note
Includes bibliographical references (p. 399-412) and indexes
Carrier category
online resource
Carrier category code
  • cr
Carrier MARC source
rdacarrier
Content category
text
Content type code
  • txt
Content type MARC source
rdacontent
Control code
ybp3173262
Dimensions
unknown
Extent
1 online resource (xii, 421 pages)
Form of item
online
Isbn
9781400829453
Media category
computer
Media MARC source
rdamedia
Media type code
  • c
Other physical details
illustrations
Specific material designation
remote
System control number
(OCoLC)650308444
Label
The theory of incentives : the principal-agent model, Jean-Jacques Laffont and David Martimort, (electronic resource)
Link
https://ebookcentral.proquest.com/lib/eui/detail.action?docID=485766
Publication
Bibliography note
Includes bibliographical references (p. 399-412) and indexes
Carrier category
online resource
Carrier category code
  • cr
Carrier MARC source
rdacarrier
Content category
text
Content type code
  • txt
Content type MARC source
rdacontent
Control code
ybp3173262
Dimensions
unknown
Extent
1 online resource (xii, 421 pages)
Form of item
online
Isbn
9781400829453
Media category
computer
Media MARC source
rdamedia
Media type code
  • c
Other physical details
illustrations
Specific material designation
remote
System control number
(OCoLC)650308444

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